Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Santander Bancorp > News item |
Banco Santander announces tender offer for Santander BanCorp shares
By Lisa Kerner
Charlotte, N.C., Dec. 14 - Banco Santander SA said it plans to begin a $12.25-per-share cash tender offer for all the outstanding publicly held shares of Santander BanCorp common stock within approximately one month.
Currently, Banco Santander owns 90.6% of the Santander BanCorp outstanding shares.
Once the tender offer is complete, Banco Santander will take Santander BanCorp private via a short-form merger.
There are no financing conditions to the offer, and the offer does not require the approval of the boards of directors of either company, according to a Banco Santander news release.
Sandler O'Neill & Partners, LP is advising Banco Santander, a Madrid-based bank.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.